Official announcement from xAI or major news outlets

xAI Raises $6 Billion in Series C Funding Round for Grok 3, Led by Nvidia and AMD

Dec 23, 2024, 09:56 PM

Elon Musk's xAI has successfully closed its Series C funding round, raising $6 billion. The financing will be utilized to enhance the company's advanced infrastructure and develop its latest model, Grok 3, which is currently in training. Notable investors in this round include a16z, Blackrock, Fidelity, Kingdom Holdings, Lightspeed, Morgan Stanley, Nvidia, and AMD. The funding aims to support the research and development of technologies that align with xAI's mission to understand the true nature of the universe. This funding round is expected to accelerate the company's progress in the AI sector.